SK Gas signs MoU with H-Line Shipping, Ulsan Port Authority for LNG bunkering project
- Published
by Admin
Korea gas supplier SK gas reportedly signed a Memorandum of Understanding (MoU) with Seoul-based shipping firm H-Line shipping and Ulsan Port Authority for a joint LNG bunkering project in Korea recently, according to Korea JoongAng Daily.
The MoU is aimed to establish a bunkering system in the southeastern port city of Ulsan.
SK Gas, which is part of South Korea conglomerate SK Group, reportedly said the agreement was Korea’s first public-private partnership for a LNG bunkering project.
According to Korea JoongAng Daily, the trio added they plan to set up a joint venture for the project in the first half of 2024 and will build a new LNG bunkering vessel.
In March, it was previously reported SK gas was preparing to enter the LNG bunkering market through a terminal construction project the company is participating in.
SK gas and other companies were reportedly building the Korea Energy Terminal, a 1.2 trillion won (USD 919 million) infrastructure project, in Ulsan, southeast of Seoul. The terminal, an all-in-one infrastructure for LNG import, storage and supply, would be the LNG bunkering pier in the country.
Photo credit: Hyunjung Park on Unsplash
Published: 23 August, 2023
